Van Cleef Asset Management Inc Sells 695 Shares of Alphabet Inc. (NASDAQ:GOOG)

Van Cleef Asset Management Inc lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,913 shares of the information services provider’s stock after selling 695 shares during the quarter. Alphabet comprises about 1.9% of Van Cleef Asset Management Inc’s investment portfolio, making the stock its 14th biggest position. Van Cleef Asset Management Inc’s holdings in Alphabet were worth $13,235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. Veracity Capital LLC grew its stake in Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares during the last quarter. Independence Bank of Kentucky grew its stake in Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares during the last quarter. Washington Trust Bank grew its stake in Alphabet by 33.0% in the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after buying an additional 1,826 shares during the last quarter. CNB Bank grew its stake in Alphabet by 6.6% in the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after buying an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC grew its stake in Alphabet by 1.9% in the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after buying an additional 155 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. In the last three months, insiders sold 253,439 shares of company stock valued at $36,746,578. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna raised their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Raymond James raised their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has an average rating of “Buy” and an average target price of $165.67.

Alphabet Price Performance

NASDAQ:GOOG opened at $173.69 on Friday. The company has a 50-day moving average of $149.12 and a 200-day moving average of $142.75. The company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a 52 week low of $104.42 and a 52 week high of $176.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the firm earned $1.17 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.